The number of convenience stores decreased by 1,377… Focus on securing substantial management and profitability

Number of stores decreased by 1,377 compared to 2024... “Focus on securing substantial management and profitability”

(Seoul = Yonhap News) Reporter Jeong Soo-yeon = Although the convenience store industry is pursuing internal stability rather than quantitative growth, the growth in sales per store is slowing again recently.

According to the Ministry of Trade, Industry and Energy's sales trend data for major retailers on the 5th, the sales growth rate per convenience store store as of last August was 1.5%, the lowest in 14 months since June of last year (0.6%).

The sales growth rate per store this year fluctuated from 3.9% in January, 7.1% in February, 5.5% in March, 5.8% in April, and 8.1% in May, showing an upward trend, before dropping to 6.6% in June, 2.1% in July, and down to 1.5% in August.

The background is considered to be market saturation due to excessive store openings, an increase in competitors such as Daiso, and the reverse base effect resulting from the government providing coupons for people's livelihood recovery in the summer of 2025.

As of August, the total number of stores of the four domestic convenience store companies (GS25, CU, 7-Eleven, and E-Mart 24) is 53,475.

There was a slight increase compared to the end of last year (53,266), but a decrease of 1,377 compared to the end of 2024 (54,852).

There is one convenience store for every 950 to 970 people.

The sales growth rate of the four domestic convenience stores was also 0.8% in August, the lowest since January of this year (0.8%).

As the market is already saturated, convenience store operators are breaking away from past quantitative growth strategies and focusing on increasing sales at existing stores and securing profitability through substantial management.

BGF Retail is focusing on developing exclusive products that cannot be purchased from other companies, and GS Retail is planning a strategy to increase 'fresh strength stores' by expanding the fresh food group.

Korea Seven, which operates 7-Eleven, is pursuing a strategy to strengthen profitability, posting an operating profit of 4.1 billion won in the second quarter of this year, and E-Mart 24 reduced its loss by 2.1 billion won through efficiency, such as reducing the number of stores by 21 in the second quarter.

An official in the distribution industry said, “Sales growth is expected to slow somewhat in the third quarter,” and “As major businesses choose strategies to enhance profitability, the increase in operating profit is expected to continue.”